TOTTEN TRUST

Pronunciation (US):

(GB):

IPA (US):

 Dictionary entry overview: What does Totten trust mean? 

• TOTTEN TRUST (noun)
  The noun TOTTEN TRUST has 1 sense:

1. a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiary

  Familiarity information: TOTTEN TRUST used as a noun is very rare.

 Dictionary entry details 

• TOTTEN TRUST (noun)

Sense 1

Meaning:

A savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiary

Classified under:

Nouns denoting possession and transfer of possession

Synonyms:

savings account trust; savings bank trust; Totten trust; trust account; trustee account

Hypernyms ("Totten trust" is a kind of...):

trust (something (as property) held by one party (the trustee) for the benefit of another (the beneficiary))